FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.
12/18/17 Closing Prices:
Bitcoin: $18,842.53 (+1260.36) from Friday’s close
Gold: $1,262 (+$6)
Dow Jones Industrials: 24,792.20 (+140.46)
S&P 500: 2,690.16 (+14.35)
Nasdaq Composite: 6,994.76 (+58.18)
Trading Summary Notes for Monday, 12/18/2017
- BITCOIN up sharply from Friday, but off from late Sunday
- CME Group futures now active. Creates new ways to hedge, but also creates new sellers
- Looks as if the CME bitcoin futures is the better product.
- Bitcoin is getting more efficient and maybe a touch less volatile
- Still too much “chatter” about bitcoin. Very frothy and looks to be “over owned”. Any sellers other than in the futures? Hmmmm!
- GOLD once again beginning a rise toward $1,295-$1,300
- Inflation and new wage increase pressure should help gold
- Gold is under owned and under loved. Don’t be short gold
- LONG TERM BULLISH ON BITCOIN AND GOLD
CURRENT TRADING POSITION: Long GOLD